Husky Energy profit jumps on higher crude, natgas prices

Wed May 7, 2014 7:17am EDT
 
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May 7 (Reuters) - Husky Energy Inc, Canada's No.3 integrated oil company, said its first-quarter profit rose 24 percent, helped by stronger prices for its crude oil, natural gas liquids and bitumen.

Average realized pricing in the first quarter ended March 31 rose to $87.32 per barrel from $68.32 a year earlier.

The company, controlled by Hong Kong billionaire Li Ka-shing, said net income rose to C$662 million ($608 million), or 66 Canadian cents per share, from C$535 million, or 54 Canadian cents. ($1 = 1.0893 Canadian Dollars) (Reporting by Sayantani Ghosh in Bangalore; Editing by Savio D'Souza)